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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/38886
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| Title: | | Optimum taxation of bequests in a model with initial wealth  |
| Authors: | | Brunner, Johann K. Pech, Susanne |
| Issue Date: | | 2010 |
| Series/Report no.: | | CESifo working paper Public Finance 2977 |
| Abstract: | | We formulate an optimum-taxation model, where parents leave bequests to their descendants for altruistic reasons. In contrast to the standard model, individuals differ not only in earning abilities, but also in initial (inherited) wealth. In this model a redistributive motive for an inheritance tax - which is equivalent to a uniform tax on all expenditures - arises, given that initial wealth increases with earning abilities. Its introduction increases intertemporal social welfare or has an ambiguous effect, depending on whether the bequeathing generation can adjust their behaviour and whether the external effect related to altruism is accounted for in the social objective. |
| Subjects: | | optimum taxation taxation of bequests |
| JEL: | | H21 H24 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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